Walmart stock price trend and investment value analysis, how to view the transformation of retail giant Walmart?

On the last trading day of June 2026, Walmart Inc. (NYSE: WMT) closed at $114.60, down 0.94% for the day, with an intraday range of $114.20 to $116.80. As of June 30, the company's market capitalization was approximately $912 billion, with a P/E ratio of about 40 times. This valuation level is not particularly low within the global retail industry, but the premium the market is offering reflects more of a bet on the long-term value that this traditional retail giant is unlocking in its digital transformation.

For investors who pay attention to both crypto assets and the U.S. stock market, Walmart's case provides a unique window into how a physical retail empire with over 2.1 million employees and a global store network spanning dozens of countries can redefine its growth curve amid multiple variables such as e-commerce disruption, inflation volatility, and changing consumer behavior.

Stock Trading Within a 52-Week Range, What the Market Is Pricing In

From a price structure perspective, Walmart's stock has traded in a 52-week range of $93.27 to $135.16. The current price of $114.60 is in the lower-middle portion of this range, with a year-to-date return of approximately 4.25%. This performance has outperformed some traditional retail peers, but it is not particularly prominent compared to the gains in the tech sector of the Nasdaq index over the same period.

The market's 40x P/E ratio essentially reflects investor expectations for Walmart's future earnings growth—not recognition of current earnings. In the first quarter of 2026 (the first quarter of fiscal 2027), Walmart reported total revenue of $177.8 billion, up 7.3% year-over-year; adjusted operating profit was $7.5 billion, up 5.1% year-over-year. Revenue growth outpacing profit growth indicates that the company is still in a phase of "trading scale for transformation"—investment is increasing, but returns have not yet been fully realized.

Are E-commerce and Advertising Becoming a Second Growth Curve?

Two data points in Walmart's growth structure are worth noting.

First, e-commerce. Walmart's U.S. e-commerce sales grew 26% year-over-year in the first quarter, driven mainly by strong store fulfillment and delivery performance and its marketplace platform. Globally, e-commerce growth was also impressive—Walmart China's e-commerce net sales in the first quarter grew 31% year-over-year, with online sales now accounting for 50% of total sales. This means Walmart is no longer just synonymous with "offline retail" but is becoming an omnichannel retail platform that integrates online and offline.

Second, the advertising business. In the first quarter, Walmart's overall advertising business grew 36%, with its Walmart Connect advertising platform growing by as much as 44%. The high profit margins of the advertising business and the expansion logic of the Retail Media Network are contributing a new revenue stream with diminishing marginal costs for Walmart. The common feature of these two growth curves is that they are both built on Walmart's existing massive user base and supply chain capabilities—they represent "capability spillover" rather than "starting from scratch."

Divergence in International Business and China's Structural Role

Walmart's international business reported net sales of $35.1 billion in the first quarter, up 10.1% on a constant currency basis, with operating profit growing 10.2%. However, performance varied significantly across different markets.

The Chinese market is the most prominent bright spot. In the first quarter, Walmart China's net sales reached $8 billion, up 22.3% year-over-year, with comparable sales growth of 13.1%. Sam's Club stores are the main growth engine—Sam's Club added nine new stores in China over the past 12 months, with transaction volumes continuing to grow at double-digit rates. As of April 30, 2026, Walmart operated 278 Walmart supermarkets and 63 Sam's Club stores in China.

However, the rapid increase in e-commerce penetration has also brought structural challenges. Due to the rise in e-commerce penetration and adjustments in business format structure, Walmart China's gross margin declined slightly in the first quarter. Nevertheless, strong sales growth effectively offset the increases in labor and marketing expenses, keeping the operating expense ratio stable year-over-year and ultimately driving growth in operating profit. The experience in the Chinese market shows that e-commerce transformation may compress gross margins in the short term, but in the long run, higher user stickiness and market share are the true moats.

Cryptocurrency and Blockchain: What Walmart's Web3 Layout Means

Walmart's moves in the digital asset space are accelerating, and this trend offers a reference for understanding its long-term strategic direction.

In June 2026, Walmart announced it would accept cryptocurrency payments such as Bitcoin and Ethereum in its stores. The significance of this decision goes beyond simply expanding payment options—it directly connects digital assets with one of the world's largest retail networks, moving cryptocurrencies one step closer from investment assets to everyday consumption tools.

Prior to that, Walmart's controlled fintech platform OnePay had expanded the number of supported cryptocurrencies to over 15 in March 2026, adding mainstream tokens including XRP, Solana, Dogecoin, and Cardano. More notably, Walmart's incubation unit, Store No8, announced in May 2026 a partnership with investment firm Outlier Ventures to launch a Web3 accelerator program called "Store No8 dCommerce Base Camp," focusing on decentralized infrastructure, data and growth solutions, immersive experiences, and the metaverse.

The common logic behind these moves is that Walmart is transforming itself from a "merchandise retailer" into a "retail infrastructure platform"—not only selling goods but also providing comprehensive services in payments, data, logistics, and digital experiences. In this framework, cryptocurrency and blockchain technology are important components of its infrastructure layer.

How to Understand the Contradiction Between High Valuation and Low Growth

The current P/E ratio of about 40x is on the high side within Walmart's historical valuation range. However, the absolute value of the P/E ratio alone does not constitute a complete valuation judgment—what matters is understanding what expectations are embedded in this premium.

The market's pricing logic for Walmart may include several layers: First, the growth of e-commerce and advertising businesses is changing the company's revenue structure and profit margin trajectory; second, the success of the Sam's Club model in markets like China validates the scalability of membership-based warehouse retail; third, the company's layout in areas such as payments, data, and Web3 provides option value for the future.

But risks also exist. E-commerce investment is still eroding short-term profits—Walmart's net profit in the first quarter fell 23.2% year-over-year to $2.9 billion, partly due to aggressive investment in e-commerce and low-price strategies, as well as a one-time debt repayment cost of $788 million. Additionally, uncertainty in the macro consumer environment, the ongoing pressure of inflation on low-margin retail formats, and competitive pressure from rivals like Amazon are all variables that cannot be ignored.

Is the Correlation Between Walmart and Crypto Assets Increasing?

From an asset allocation perspective, a new dimension of correlation is emerging between Walmart and crypto assets—not a statistical correlation at the price level, but a structural correlation at the business level.

When Walmart starts accepting cryptocurrency payments, its fintech platform expands crypto asset support, and its Web3 accelerator becomes operational, this traditional retail giant is effectively becoming one of the bridges connecting the "real economy" and the "digital asset world." For investors who allocate to both crypto assets and U.S. stocks, Walmart's business developments offer a real-world example of how traditional companies are embracing digital technology.

A direct consequence of this correlation is that Walmart's performance and strategic decisions may, to some extent, influence market expectations for the theme of "enterprise-level cryptocurrency applications." Conversely, the user base size and trading activity of the crypto asset market may also affect the pace of Walmart's expansion in payments and fintech.

Trading Walmart Stock Through Gate: A Path for Crypto Users to Allocate U.S. Stocks

For crypto users holding stablecoins like USDT, directly investing in U.S. stocks such as Walmart previously faced high operational barriers—requiring currency exchange, cross-border remittances, and opening separate accounts at traditional brokerages.

On June 1, 2026, Gate officially launched its real stock trading service, becoming one of the first exchanges in the industry to directly access the U.S. stock market within a crypto platform. The service connects to major U.S. securities markets, including the New York Stock Exchange and Nasdaq, through a partnership with Alpaca, a compliant broker-dealer with a U.S. Broker-Dealer license and clearing qualifications. Each share purchased on Gate is backed by an equal amount of real, registered stock assets, independently custodied through the DTC (Depository Trust & Clearing Corporation) system.

In terms of asset coverage, Gate already supports over 10,000 stocks and ETFs, covering five major U.S. trading markets: NYSE, Nasdaq, NYSE Arca, NYSE American, and BATS. Walmart (WMT), as a component of the Dow Jones Industrial Average and a weighted stock in the S&P 500, is naturally included. Users do not need to exchange currencies, make cross-border remittances, or open an additional brokerage account; they can directly use the USDT liquidity in their Gate account to buy U.S. stocks like Walmart.

The core difference in this model lies in the asset nature: users trade real shares that are synchronized with Wall Street, not tokenized stocks or contracts for difference. During the holding period, users automatically enjoy full shareholder rights, including cash dividends, stock splits, rights offerings, and other corporate action entitlements.

Summary

Walmart's current market cap of $912 billion and P/E ratio of about 40x reflect the market's pricing of its digital transformation prospects. The 26% growth in e-commerce, 36% growth in advertising, and 22.3% net sales growth in China together sketch the evolution path of a traditional retail giant. However, the decline in net profit, the pressure of e-commerce investment on gross margins, and the uncertainty of the macro consumer environment also indicate the real costs during the transformation process.

For investors, Walmart's case provides a window to observe how traditional companies rebuild competitive barriers in the digital age. And with platforms like Gate opening trading channels between crypto assets and the U.S. stock market, the operational barriers for crypto users to allocate high-quality U.S. stocks like Walmart are significantly lowering.

Frequently Asked Questions (FAQ)

Q1: On which exchange is Walmart stock listed, and what is its trading symbol?

Walmart is listed on the New York Stock Exchange (NYSE) under the trading symbol WMT.

Q2: What is Walmart's current stock price and approximate market cap?

As of June 30, 2026, Walmart's stock price is approximately $114.60, with a total market cap of about $912 billion.

Q3: How did Walmart perform in its recent earnings report?

In the first quarter of fiscal 2027 (February to April 2026), Walmart reported total revenue of $177.8 billion, up 7.3% year-over-year, and adjusted operating profit of $7.5 billion, up 5.1% year-over-year.

Q4: What are Walmart's initiatives in the cryptocurrency space?

Walmart has announced accepting Bitcoin and Ethereum payments in its stores, its OnePay platform supports over 15 cryptocurrencies, and it has launched a Web3 accelerator program.

Q5: How can crypto users trade Walmart stock through Gate?

Gate has launched a real U.S. stock trading service, supporting over 10,000 U.S. stocks and ETFs. Users can directly purchase real shares like Walmart using USDT, without needing to exchange currencies or open an additional brokerage account.

Q6: Are the shares bought through Gate real stocks or derivatives?

Gate's real stock trading uses a direct broker connection model. Each share purchased is backed by an equal amount of real, registered stock assets, independently custodied through the DTC system. These are real shares, not tokenized products or contracts for difference.